System and method of detecting fraud

Details System and method of detecting fraud System and method of detecting fraud

2006-10-03

2010-02-23

Trammell, James P (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S038000, C705S039000, C705S042000, C705S044000

Reexamination Certificate

active

07668769

ABSTRACT:
Embodiments include systems and methods of detecting fraud. In particular, one embodiment includes a system and method of detecting fraud in transaction data such as payment card transaction data. For example, one embodiment includes a computerized method of detecting that comprises receiving data associated with a financial transaction and at least one transacting entity, wherein the data associated with the transacting entity comprises at least a portion of each of a plurality of historical transactions of the transacting entity, applying the data to at least one first model, generating a score based on the first model, and generating data indicative of fraud based at least partly on the score. Other embodiments include systems and methods of generating models for use in fraud detection systems.

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